Forex Technical Analysis & Forecast 29.09.2022

EURUSD, “Euro vs US Dollar”

After completing another descending wave at 0.9535 along with the correctional structure up to 0.9727, EURUSD is forming a new descending structure to break 0.9575. Later, the market may continue trading downwards with the target at 0.9408.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has finished the correction up to 1.0538; right now, it is forming another ascending wave to reach 1.1020. After that, the instrument may resume trading downwards with the target at 1.0260.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY continues consolidating around 144.44. Possibly, the pair may grow towards 145.95. Later, the market may fall to test 144.44 from above and then resume growing with the target at 146.86.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9797. Today, the pair may fall towards 0.9730 and then resume trading upwards with the target at 1.0131, or even extend this structure up to 1.0370.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed the descending wave at 0.6363; right now, it is correcting up to 0.6535. After that, the instrument may resume trading downwards with the target at 0.6323.

BRENT

After forming a new consolidation range around 86.58 and breaking it to the upside, Brent has finished the ascending wave at 89.15. Possibly, today the asset may start a new correction down to 86.60 and then resume trading upwards with the target at 89.60.

XAUUSD, “Gold vs US Dollar”

After completing the descending wave at 1615.15 along with the ascending structure towards 1660.00, Gold is falling to reach 1639.00. Later, the market may resume growing towards 1663.63 and then start a decline with the target at 1611.55.

S&P 500

Having finished the descending wave at 3600.2, the S&P index is growing towards 3744.4, thus forming a new consolidation range around 3677.5. If later the price breaks the range to the downside, the market may resume falling with the target at 3500.0, or even extend this structure down to 3355.5; if to the upside – start a new correction to reach 3877.3.